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GENERAL MAGNAPLATE NET INCOME INCREASES 38.1 PERCENT FOR QUARTER ENDED SEPT. 30, 1993

 LINDEN, N.J., Nov. 10 /PRNewswire/ -- General Magnaplate Corporation (NASDAQ: GMCC) today released the following:
 During the first quarter of fiscal 1994 General Magnaplate continued to gain market share with its surface enhancements for metal parts in a wide variety of industries. The slow revitalization of the economy makes the "value added" benefits of Magnaplate's coatings and finishes all the more significant to its customers. Additional technical sales personnel, an aggressive marketing campaign and increased training from within keep Magnaplate on the leading edge of this expanding industry.
 Gross revenue increased 5.4 percent and sales increased 5.8 percent from the same quarter last year. Income before corporate income taxes increased 33.7 percent and earnings per share increased 42.9 percent over the same quarter last year. Working capital increased 10 percent.
 GENERAL MAGNAPLATE CORPORATION
 Condensed Statement of Income
 Three months ended Sept. 30 1993 1992
 Gross revenue $2,464,196 $2,337,647
 Income before taxes 494,221 369,720
 Net income 306,147 221,720
 Net income per share $.10 $.07
 Average shares outstanding 3,051,694 3,051,694
 -0- 11/10/93
 /CONTACT: Candida C. Aversenti, president of General Magnaplate, 908-862-6200/
 (GMCC)


CO: General Magnaplate Corporation ST: New Jersey IN: CHM SU: ERN

CK-LG -- NY071 -- 2816 11/10/93 14:02 EST
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Publication:PR Newswire
Date:Nov 10, 1993
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